Tag: Sportswear stocks

[ad_1] Some analysts said Nike could also be falling behind on innovation and losing share to other brands. (Photo: Reuters) Nike sank 12% premarket on Friday and dragged shares of other sportswear companies after weak consumer spending forced the Air Jordan 1 shoe maker to cut its annual revenue forecast and signal a profit-over-sales strategy shift.   The company also laid out a $2 billion cost-saving plan on Thursday and said it was adopting a “more prudent approach” to planning for the rest of the year, blaming the forecast cut on weakness in its online business and increased ... Read more